What NOT To Do When Starting a Business Online

What NOT To Do When Starting a Business Online

Starting a business online requires finding a problem, and trying your best to find a solution to the problem. If you haven’t discovered a problem, that you can solve, then you are not fit to be in the business.

Although, mistakes are inevitable.But most people fear starting a business online for so many reasons such as trying to offer many services to their customers, or overestimating the profits they intend to make from the business. Here are what not to do when starting a business online:

Not having a business plan

To run a successful business, you need a plan. The plan serves as your guide or homework. The plan helps you to know the amount of cash you have. Who your customers are, what they need from you, the products or services you are selling, what people should pay for, and how much they should pay and lots more.

Not getting started

Some people don’t get started because they don’t have a business card, business logo, website, an office space etc. while all these things are necessary, but you must not wait till they are available before you start making money from your business. Start your business now- this will propel you to take it to the next level.

Not having a financial plan

You can’t start a business online without having a detailed financial plan. This plan will determine how much money you need, and what it will take you to achieve these goals.

Undervaluing your products or services

This is one of the worst mistakes you can ever make. Undervaluing your products or services will make you to appear cheap and desperate. What you should do is to set the price to what it should be. Then, continue to adjust the price as the business grows.

Ignoring quality customer Service

If you are starting a business online, then you should never ignore quality customer service. If customers are not satisfied with the services they get from you, it will discourage them buying from you or even recommending your product or services to their family and friends.

Do everything within your power to give them a good experience. Ensure you interact with your customers. This will help you to know how they feel about your products or services. There are many ways of interacting with them- through phone, email, survey, live chat etc.

Monitor your social media accounts to know what your customers are saying. If you don’t have the time and skills to do this, kindly hire customer service experts to do this work. With quality customer service, you will know who is happy for the product or service you are selling, and who is not happy.

Not being active on social media

Starting a business online requires having a viable social media accounts. You cannot say you are running a business without having an online presence. Create accounts in Facebook, Twitter, LinkedIn, and Instagram and so on, and promote your products or services through these platforms. The truth is that you will never regret doing so.

Being active on social media is one of the easiest and most innovative ways of building an online presence. Through social media, you connect with your friends, business partners, and customers. They buy your items, and even send their feedbacks to you. The feedback helps you to know areas you need to amend.

Not hiring the right talent

It is good to have a business plan, and abide it. It is also good to have good vision for your online business. But you will spoil all these if you don’t hire the right talents. When you are starting a business online is not the best time to hire your family members and friends just because they have no jobs.

Make sure the people you are hiring have the talent and passion to do the business effectively. Also, try to hire people who are smarter than you are, and those who have skills you don’t have.One of the biggest mistakes you can ever make is to hire people just because they are looking for job.